Dismal jobs report pushes up Treasury prices

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April 6, 2012 5:27PM (UTC)

Treasury prices are shooting higher after a weak jobs report.

The yield on the benchmark 10-year Treasury note fell to 2.08 percent from 2.18 percent after the Labor Department released its monthly employment survey. The price jumped 90.6 cents for every $100 invested.

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Bond yields fall when their prices rise. That means more people are trying to buy the bonds, which are less risky than stocks and commodities. Investors tend to pile into Treasurys when they're worried about the economy.

Treasury yields also fell Wednesday and Thursday as traders worried that Spain could become the next European country to run into trouble with its debts.

The government said 120,000 net jobs were created in the U.S. last month, down from more than 200,000 in each of the three previous months.